DT. wrote:Paphitis wrote:DT. wrote:Small correction there Paphiti. All your superfunds combined have total assets under mgt of around 700bn. The only trillion dollar funds are Norway and Japan.
I will need to correct you there DT.
The Australian Futures Fund when combined (all Australian citizens) is about 4.6 Trillion now.
Now this is hundreds of Management companies combined (Banks, Commercial Funds, and Unions like AFAP, and other industry run funds like the Police, Defence, Nurses and School Teachers etc)
The 4.6 Trillion isn't a singular fund. There are hundreds of them. So the largest fund in Australia, which is probably the Commonwealth Bank or something similar might be 700 billion, but when you combine all funds together its about 4.6 Trillion.
And I believe Australia has been doing this a lot longer than Japan and Norway. Australia was the first to do it, so it is a massive industry here.
Nope...your govt futures fund combined is 146bn which is comparable to the New York common retirement fund of 150bn.
Now if you take all the privately ran funds from virgin, fidelity etc then yes those assets go up to 2.7 trillion which
Is a new record for you guys. But we’re discussing govt pension funds here. Norway and japan lead with the largest funds.
https://www.consultancy.uk/news/14292/t ... -the-globe
The Australian Government has its own Futures Fund which i am not sure what it is - probably the Super Fund for Government Workers but they all don't come under that specific banner either because police have their own and don't come under the Government Futures Fund, Defence also come under their own, nurses have their own and School teachers have their own.
So it probably includes senior Government workers and/or politicians and so on.
I have 2 Super Funds as follows:
I have an account with Defence Super - which I never rolled because it is a Government Fund and those are meant to be better so I am told. My health Insurance is still Defence Health and it includes extra benefits over ordinary insurers.
And an industry fund through AFAP which is very much active - as in money is still going into it today.
All Super Funds today are 4.6 Trillion but you won't find it under one particular fund. There are literally something like 700 Pension Funds in Australia ranging from 1 to 2 Billion and all the way up to hundreds of Billions in the one fund. The biggest ones are probably companies like Commonwealth Bank, AMP, Westpac, and National Australia Bank, because they probably have the most customers or accounts.
I wasn't discussing Government Pension Funds. I think we need to clarify the terminology here. The Australian Pension Fund System (Super System) is a privately run system. The Government has little to do with it other than oversee and legislate it. Even the Government Pension Fund isn't owned by the Australian Government, but is probably run through another commercial fund manager or various industry funds. Even those above in your link would be privately run. It depends on how you see it really, because the current Australian Prime Minister thinks he owns it (Government owns it) because it is all run through the Australian Tax System. Yes it is confusing and not many people know much about it, but the funds are all privately run and the funds in them are all privately owned
The Australian Government has many Pension Funds.
They have one for Police. They have one for nurses, They have one for teachers, They have one for all Australian Defence Personal. There is also one for defence workers. Kid you not. So if you work on the Australian Baracuda Submarines, you are entitled to join the latter but not the ADF Fund.
So if you combine all these, we are looking at a lot more than 150 billion because the Australian Public Sector is vast. But they are not all in one fund. There would literally be a couple of hundred funds out there.
Australia doesn't accumulate its Pension Fund under the one tally.
To be a member of Defence Australia Super Fund, you had to be a present or past member of the Australian Defence Force. It isn't open to others. To be a part of AFAP you need to be a paid up member of that union and so on.
A school teacher can not join Defence Australia. A police officer can't join Defence Australia. A politician can't join Defence Australia but those people will have their own and they are all
separate.
So Australian Pension Funds are actually an evolving beast. I also think (not sure) that Australia is the very first to do something like this. Australia started this in 1992.
I like to live on the edge buddy! 
